FTC Solar, Inc. (NASDAQ:FTCI) Director Buys $49,048.20 in Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila bought 16,740 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were bought at an average cost of $2.93 per share, for a total transaction of $49,048.20. Following the completion of the acquisition, the director now directly owns 1,984,708 shares in the company, valued at approximately $5,815,194.44. This trade represents a 0.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

FTC Solar Price Performance

Shares of NASDAQ:FTCI opened at $2.57 on Friday. FTC Solar, Inc. has a 1 year low of $1.76 and a 1 year high of $7.40. The business’s 50-day moving average is $3.13 and its 200-day moving average is $4.13. The company has a market capitalization of $33.07 million, a price-to-earnings ratio of -0.68 and a beta of 1.25.

Hedge Funds Weigh In On FTC Solar

A hedge fund recently raised its stake in FTC Solar stock. Geode Capital Management LLC increased its stake in FTC Solar, Inc. (NASDAQ:FTCI) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 766,863 shares of the company’s stock after acquiring an additional 64,325 shares during the quarter. Geode Capital Management LLC owned 0.60% of FTC Solar worth $522,000 at the end of the most recent reporting period. Institutional investors own 45.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group cut their price objective on FTC Solar from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday. Roth Mkm upped their price objective on shares of FTC Solar from $0.50 to $3.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st.

About FTC Solar

FTC Solar, Inc engages in the provision of solar tracker systems, software, and engineering services in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company offers a self-powered, two-panel in-portrait, and single-axis tracker solution under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name.